Singapore banks implement share repurchases
A share repurchase is a program by which a company buys back its ownshares from the marketplace, usually because management thinks the shares are undervalued, and thereby reducing the number of outstanding shares.
On 9, 10, 11 and 12 July 2018, OCBC bought back a total of 300,000 shares at a price range of between S$11.31 and S$11.51 per share. The total cost was around S$3.4 million.
On 9, 10, 11 and 12 July, UOB bought back 320,047 shares ranging from S$26.05 to $26.99 per share, translating to a total cost of around S$8.5 million.
On 9, 10, 11 and 12 July 2018, OCBC bought back a total of 300,000 shares at a price range of between S$11.31 and S$11.51 per share. The total cost was around S$3.4 million.
On 9, 10, 11 and 12 July, UOB bought back 320,047 shares ranging from S$26.05 to $26.99 per share, translating to a total cost of around S$8.5 million.
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